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Nomura Extends Longest Winning Streak in Six Years: Tokyo Mover

Dec. 25 (Bloomberg) -- Nomura Holdings Inc. climbed for a
ninth day in Tokyo trading, extending the longest winning streak
in more than six years as investors anticipate a stock rebound
will bolster earnings at Japan’s biggest brokerage.

The stock rose 6.3 percent to 458 yen at the close, the
highest since March 22, 2011. Tokyo-based Nomura has climbed 34
percent this month, and on Dec. 21 marked its longest rally
since April 2006.

Japan’s benchmark Topix Index is heading for its biggest
monthly gain since February on optimism incoming Prime Minister
Shinzo Abe will increase pressure on the central bank to do more
to beat deflation. Brokerages have gained the most this month as
the stock recovery boosts prospects investors will take more
risks, said fund manager Mitsushige Akino.

“Investor sentiment has been rapidly improving, enabling
them to buy not only stocks but also foreign equities and
bonds,” said Akino, Tokyo-based chief fund officer at Ichiyoshi
Asset Management Co., which oversees about 30 billion yen ($350
million). “That’s increasing business opportunities for Nomura
and other securities firms.”

Nomura has surged 65 percent since Chief Executive Officer
Koji Nagai took the post on Aug. 1. Nagai has promised to cut $1
billion of costs and focus on Japan and elsewhere in Asia as the
firm that bought part of bankrupt Lehman Brothers Holdings Inc.
in 2008 scales back its overseas ambitions.

“Retail brokerage operations are the wellspring of
Nomura’s business,” Akino said. “The market recovery coincides
with the new CEO’s policy of focusing on the mother market and
strengthening retail businesses.”